Possible fraud dogs Unilife

The medical device maker plumetted today despite management securing an important contract, with management issues and possible fraud dogging the stock.

The Unilife Corporation (UNS) rollercoaster ride took another unexpected plunge today even as management secured an important contract with pharmaceutical giant Sanofi.

Shareholders should have been rewarded by the highly anticipated news that could generate more than $100 million in annual revenue for Unilife.

But corporate governance issues are dogging the stock, which crashed 7.8% in lunch time trade to 59 cents.

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